In order to expand theft customer base, organizations are increasingly shifting their marketing strategies from a product-centric approach to a customer-centric approach. However, huge customer acquisition costs are a major concern for the organizations. Customer acquisition cost may be referred to as resources that an organization spends in order to acquire a new customer. To minimize a customer acquisition cost associated with a customer, an organization generally takes into consideration an overall value that the organization may derive from the customer during the association of the customer with the organization. The overall value may be in terms of overall profitability or revenue to be generated by the association of the customer with the organization. The consideration of customer valuation may help the organization to decide how much of its resources can be profitably spent for acquiring the customer. The technical problem addressed by the disclosure is this assigning of lifetime values to prospective customers with greater accuracy using a method for estimation of Prospective Lifetime Value estimation.